This Week in Coins: Meme Coins Make Comeback, Bitcoin Holds Steady and Avalanche Blows Up
Major coins and tokens took an early swing upwards this week before a couple of days in the red emerged.
Right now, Bitcoin (BTC) is trading for $36,735 a 24-hour jump of 2%. Over seven days, it has essentially been flat.
It started the week strong, regularly flirting with the 18-month high of $37,000 per coin it touched last week, but it has since struggled to sit comfortably above that figure.
The U.S. Securities and Exchange Commission hit the delay button again on spot Bitcoin ETF applications from Franklin Templeton, Hash Dex, and Global X, which may have been a slightly bearish (albeit expected) signal for investors.
Meme coins made a strange resurgence this week, with Dogecoin (DOGE) being one of the best performers. The Elon Musk favorite is priced at $0.08 right now—a slight gain over seven days.
Naturally, Shiba Inu (SHIB) has also fared well. The DOGE rival dog coin is trading at $0.00000861, at one point up 2.5% over seven days after boxing legend Manny Pacquiao announced that his charitable foundation would use the token’s blockchain network, Shibarium, for fundraising.
Elsewhere, altcoin star Solana (SOL) saw its long-running rally slow down. The Ethereum-competitor had hit another yearly high Monday but cooled its run. It is now priced in at $58.31 per coin, and is up 5.6% over the past 24 hours.
And Avalanche (AVAX) surged after J.P. Morgan said it had used the blockchain to tokenize portfolios. AVAX, the 12th biggest digital asset by market cap, is priced at $22.12, having shot up by more than 46% over the week—making it this week’s winner.
Edited by Ryan Ozawa.